Beacon Roofing Supply (NASDAQ:BECN) Now Covered by StockNews.com

StockNews.com started coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report published on Tuesday morning. The firm issued a sell rating on the stock.

Several other research firms have also recently weighed in on BECN. Zelman & Associates cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Baird R W cut shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. William Blair reaffirmed a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday, March 20th. Loop Capital reissued a “hold” rating and issued a $124.00 target price on shares of Beacon Roofing Supply in a research note on Friday, March 21st. Finally, BMO Capital Markets dropped their target price on Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $120.95.

Beacon Roofing Supply Stock Performance

NASDAQ:BECN opened at $123.80 on Tuesday. The stock has a market capitalization of $7.62 billion, a P/E ratio of 21.16 and a beta of 1.63. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $123.90. The firm has a 50 day moving average of $117.72 and a 200-day moving average of $105.01.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.43 billion. As a group, sell-side analysts anticipate that Beacon Roofing Supply will post 7.22 EPS for the current fiscal year.

Institutional Trading of Beacon Roofing Supply

Hedge funds have recently modified their holdings of the company. Quarry LP grew its holdings in Beacon Roofing Supply by 180.7% during the third quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Beacon Roofing Supply during the 3rd quarter worth $28,000. SBI Securities Co. Ltd. bought a new position in Beacon Roofing Supply during the fourth quarter worth about $31,000. Johnson Financial Group Inc. acquired a new position in Beacon Roofing Supply in the fourth quarter valued at about $54,000. Finally, PNC Financial Services Group Inc. grew its stake in Beacon Roofing Supply by 38.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 591 shares of the company’s stock valued at $60,000 after acquiring an additional 163 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.